What's my "competitive advantage" for a condo as an investment

[Erik Sherburne]

I read the forum posts. I've listened to all the podcasts and I get all of the cons for having a condo as an investment property. For me, real estate investing is a way to diversify income streams, increase net worth, but at this point in my life (with a wife and two young kids, a job, etc.) it isn't my number one priority. Recognizing that I see where condos have a lot of advantages. I'm looking for properties where I can double my investment within 5 years assuming no appreciation (cash flow + principal paid down). I've found that property where those numbers make sense conservatively, and even if I had to drop rent below market averages I would still get a ROI greater than if the money was in the stock market.

Part of my strategy is to have properties that set themselves apart from the rental market to mitigate the risk of vacancy when there are a lot of properties available to renters.  How do I  set a condo apart from the other same set up condos/apartments in the area?  In this case that area is Minneapolis/St. Paul

Full disclosure this next purchase would be my first specifc investment property purchase however we kept our previous home as a rental so I do have some experience as a property manager.

Thanks in advance for your time!

-Erik